As major cryptos edge back from their post-Fed meeting highs, traders looking to turn a quick profit are flocking to the on-chain shitcoins markets as they hunt top crypto gainers today.
Bitcoin (BTC) has slipped back to trade in the mid-$65,000s, now down 4% on the day.
Ether (ETH), meanwhile, is falling back towards $3,400, though both remain substantially above Wednesday’s lows.
But blue-chip cryptos struggle against a wave of profit-taking-driven sell pressure, many newly launched shitcoins and meme coins are pumping.
That is especially the case for new meme coins being launched on the Solana blockchain. Meme coin trading on Solana has exploded recently thanks to the blockchain’s low fees and fast transactions.
On-chain markets refer to the market for digital assets that have been issued directly on top an existing blockchain.
For example, the Shiba Inu (SHIB) token is issued on Ethereum as an ERC-20 token.
These tokens can then be traded on decentralized exchanges (DEX), and also perhaps on centralized exchanges if they get big enough.
They are often referred to as meme coin (or shitcoin) markets because virtually anyone can issue a token at any time.
As a result, these on-chain markets are replete with scams and pump-and-dump schemes.
But shitcoin markets are the only place to find tokens that can rally in the 50-100x region.
Here are a few of the top crypto gainers today on Solana that traders will be monitoring, as per DEXScreener.
Top Crypto Gainers Today
Koala AI (KOKO)
A just-launched shitcoin called Koala AI (KOKO) has pumped up 380,000%, as per DEXScreener.
Its market cap was last around $16.2 million, with around $330,000 in locked liquidity.
Morevoer, the token has already seen nearly $5 million in trading volumes.
Those are very impressive numbers for a first day of trade. But potential investors shouldn’t get carried away.
Bear in mind – nearly all newly launched shitcoins are either scams or pump-and-dump schemes.
God of Meme (GODME)
Another just-launched meme coin called God of Meme ($GODME) is up over 9,000% in 24 hours, as per DEXScreener.
Despite over $8.5 million in trading volumes in the past 24 houra, the token’s market cap is still a tiny $800,000.
The token also has $140,000 in locked liquidity, which reduces rug pull risks. Still, traders must always do their due diligence when stepping into the highly risky shitcoin market.
Crypto Alternatives to Consider
Investing in low-cap shitcoins is a very risky strategy.
An innocent-looking project could easily turn out to be a scam, and a few big sell orders could easily drive the price 80% lower.
A strategy that is still risky, but arguably has a better risk reward is getting involved in crypto presales.
The idea is that investors secure tokens of up-and-coming, high-potential crypto projects/protocols at a discounted early price.
These projects then put those funds to work, paying for protocol development and marketing.
While lots can go wrong when investing in crypto presales—unforeseen circumstances can prevent a project from delivering on its vision—savvy presale investors routinely secure gains of 10x or more.
With hundreds of presale projects vying for investor funds, analysts at Cryptonews have been combing the market.
Here are 14 of the presale projects with the highest potential.
See the 14 Cryptocurrencies
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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